Every new Pedal Retailer comes into the First Location Program in a different place – some have a crystal clear vision of their business in the space we’ll secure together, and for others, it’s hazy. For most people, the vision is partly hazy with some very clear spots.
When Pedal Retailer Jessica started FLP to find a brick-and-mortar home for Jurisdiction, her online women’s clothing boutique, she was on the clearer side of the spectrum.
She knew her target market and customer intimately – she was her own target customer, and the pain of trying to shop in her hometown of Potomac, MD was a constant frustration for her and her friends. Jessica grew up in Potomac, so she was not...
Tomorrow is Valentine's Day. So as a prepared parent, I ordered a “classroom” box of Ring Pop Tongue Painters for my daughter’s third grade class. Yes, I Amazoned the purchase. Yes, these “tongue painters” probably have some gross chemicals in them. Don’t judge me. Sometimes I eat Doritos, too.
These “classroom” Ring Pops come in packaging that allows you to Sharpie on each kid’s name, which I suppose makes the distribution more personal. I didn’t spend the extra $8 on the matching cards that let your kid write individual notes. Alice had to write “unique and specific” notes to each of her classmates in second grade, and it was a reeeeeeaaaaal challenge for a girl who inherited my mother-...
Let’s talk about landlords.
Often when we start considering retail spaces, Pedal Retailers express some version of this concern about large, corporate landlords: won’t they try to take advantage of us as a small business?
The image in their minds is that corporate landlords are like this:
While individual or mom-and-pop landlords are like this:
But having worked on more deals than any human should, we know that in many cases, the big corporate landlords can actually be like this:
And that mom-and-pop landlords can also be like this:
It makes total sense for small retailers (especially those navigating brick-and-mortar for the first time) to assume that corporate landlo...
I’ve been thinking a lot these past few months about how retail really exists on the front lines of American culture and society. I’m no economist, but I think it has to do with the fact that how we choose to spend (or not spend) money is a real-time reflection of our priorities and preferences. Put all of us together making many small financial decisions (and transactions) on a daily and weekly basis, and the impact is hard to ignore.
Retail takes it in the face first.
Let’s think of some of the recent cultural “events,” and let’s exclude COVID. We’re all painfully aware of how the retail industry was first in line to be decimated by COVID, but that’s a circumstance that is ...
Okay, before we start, let me just acknowledge how much I hate the fact that I’m using a woman’s aging as the centerpiece of this article, but you all already know that I do my part in smashing the patriarchy AND I love a perfect metaphor. So here we are.
I saw this meme the other day about how Anne Hathaway looks pretty much exactly like she did 20 years ago. Now we all know why that’s the case, right? Clearly the woman won the genetic lottery, but she’s also been “investing” in maintaining her 19-year-old face since she was 19.
Now I’m sure this meme was trying to sell me something to stick in or on my face, but do you know what the image mashup made ME think of? You guessed it. Reta...
In my experience, the strangest part of being a retailer was the constant state of emotional turmoil. There’s a lot that goes into this feeling, but one of the biggies is the total disconnect between how you think you're supposed to feel — fabulous and empowered and like it's always (as Lizzo would say) "bad b*tch o'clock" — and reality.
Because, on the one side, you’re the boss. The owner. The founder. The creative mind behind the concept. The one in charge.
But at the exact same time, you’re always feeling bossed around by everyone and everything else pretty much all the time…
Perpetually at the mercy of your customers. Your staff. Your vendors. The weather. The HVAC system. The...
I am ten years out of a commercial lease, and I am almost out of the hole. My scarlet BK will be removed from the sweater of my credit report in September.
Today, I am committed to helping people make good decisions and get good deals on their leases, because I know what it feels like to have it all go very wrong.
I’ll tell you the whole story of my first child (RIP: Punk’s Backyard Grill 2009 - 2013), another time. But for now, let’s start here...
If my experience were a cocktail, it would have been equal parts severe anxiety, disappointment, luminous pride, absolute ridiculousness, and deep joy. The day-to-day was just those five parts auto-cycling every 12 hours.
And when I think ab...
Sometimes, it feels like I specialize in mind games. I try my best not to play them with my partner (Dio, if you’re reading this, that’s definitely NOT what’s happening when I stop doing the laundry at the same time as I’m trying to win a multi-day argument), and yet, as a broker, interpreting the subtext on the other side of the negotiating table is a big part of my job advising Pedal Retailers.
If you’ve signed a retail deal, you know what I mean - and the worst of it is when the other side goes quiet, which happens all. the. time. If you’ve never signed a retail deal, you might assume that going quiet may as well be killing a deal - and you’d be wrong. Over the course of negotiating an...